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Donald Trump’s latest warning to introduce an extra 100% tariff on items imported from China has been labeled a “classic case” of US double standards, per the Chinese government.

A Commerce Ministry spokesperson also stated that the nation could enact its own unrevealed “responsive actions” if the American leader carries out his warning, noting that the country was “fearless” of a possible commercial battle.

Last Friday, Trump hit back at China’s decision to strengthen its policies for exports of rare earths, alleging China of “adopting a confrontational stance” and attempting to hold the international market “hostage”.

Additionally, he vowed to pull out of a planned talks with China’s President Xi Jinping, which was set for a conference in South Korea later this month.

His statements on Friday shook financial markets, with the benchmark US stock index dropping 2.7%, marking its steepest fall since earlier this year.

The president’s words revived fears of a trade conflict between the United States and China.

Earlier this year, the two sides had reached an agreement to drop significant levies on each other’s imports, which had raised the prospect of commerce ceasing between the economic powers.

Consequently, United States levies on Chinese goods subject to an extra 30% levy compared with the start of the year, while American products entering the Chinese market incur a 10% tariff.

China’s latest remarks – issued by the Commerce Ministry in the form of written responses to journalist’s questions – echoed rhetoric from the height of the recent trade conflict.

Officials denounced American limits on exports on chips and semi-conductors while supporting the country’s own overseas sale regulations on rare earths as “routine measures” to safeguard domestic safety and that of every country.

The spokesperson stated that for “an extended period”, the America had “expanded the interpretation” of state security, misused export control measures and “implemented” unfair treatments against Beijing.

“Resorting to trade levy ultimatums is not the right way to deal with China,” the spokesperson commented.

“The nation’s view” on a tariff war has always been consistent: we do not want one, but we are not afraid of one.”

Last week, China announced it was strengthening export controls on rare earths and further resources vital for high-technology production.

This was seen as a key move, as the state refines about ninety percent of the planet’s critical minerals, which are utilized in items such as solar panels and smartphones.

The recent comments from the US and China are being viewed by some as a strategy of enhancing bargaining power ahead of upcoming negotiations.

It is unclear whether a talks between Donald Trump and Xi Jinping, expected at a summit in the Republic of Korea later this month, will still proceed.